Cable One (NYSE:CABO) Shares Up 4.4% – Here’s Why

Cable One, Inc. (NYSE:CABO) shares shot up 4.4% during mid-day trading on Tuesday . The stock traded as high as $263.43 and last traded at $265.78. 37,803 shares were traded during trading, a decline of 66% from the average session volume of 111,843 shares. The stock had previously closed at $254.62.

Analyst Upgrades and Downgrades

CABO has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price target on Cable One from $420.00 to $325.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company reduced their target price on shares of Cable One from $340.00 to $240.00 and set an “underweight” rating on the stock in a research note on Friday, February 28th. Finally, KeyCorp dropped their price target on shares of Cable One from $825.00 to $650.00 and set an “overweight” rating for the company in a research note on Friday, February 28th.

Cable One Stock Up 4.1 %

The company has a debt-to-equity ratio of 1.84, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 6.13 and a beta of 0.93. The firm has a 50 day simple moving average of $286.10 and a two-hundred day simple moving average of $338.33.

Cable One Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 18th were given a $2.95 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $11.80 dividend on an annualized basis and a dividend yield of 4.45%. Cable One’s dividend payout ratio is 229.57%.

Insider Activity at Cable One

In other Cable One news, Director Wallace R. Weitz acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $244.02 per share, with a total value of $244,020.00. Following the purchase, the director now owns 5,584 shares of the company’s stock, valued at $1,362,607.68. This represents a 21.82 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Cable One

A number of hedge funds have recently modified their holdings of the business. Burgundy Asset Management Ltd. grew its holdings in shares of Cable One by 6.6% during the fourth quarter. Burgundy Asset Management Ltd. now owns 316,384 shares of the company’s stock worth $114,569,000 after buying an additional 19,545 shares in the last quarter. Rothschild & Co Wealth Management UK Ltd grew its stake in shares of Cable One by 1.5% during the 4th quarter. Rothschild & Co Wealth Management UK Ltd now owns 294,400 shares of the company’s stock worth $106,608,000 after acquiring an additional 4,352 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cable One by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 166,756 shares of the company’s stock valued at $60,386,000 after purchasing an additional 10,211 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cable One by 1.6% in the third quarter. Geode Capital Management LLC now owns 118,170 shares of the company’s stock worth $41,342,000 after purchasing an additional 1,839 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Cable One by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 86,776 shares of the company’s stock worth $31,423,000 after purchasing an additional 7,055 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

Cable One Company Profile

Cable One, Inc, together with its subsidiaries, provides data, video, and voice services in the United States. The company offers residential data services, a service to enhance Wi-Fi signal throughout the home. It also provides various residential video services from basic video service to digital services with access to hundreds of channels; and provides a cloud-based DVR feature that does not require the use of a set-top boxes.